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Buck bought his first home three years ago where he borrowed $ 2 5 , 0 0 0 from his Registered Retirement Savings Plan (

Buck bought his first home three years ago where he borrowed $25,000 from his Registered Retirement Savings Plan (RRSP) under the Home Buyer's Plan (HBP) to help with the down payment. In the meantime, Buck lost his job. He knows the HBP rules require him to repay his RRSP over 15 years, yet without work now, he is unable to repay the annual amount required to his RRSP. Buck, therefore, has to add the annual repayment to his income in his 2023 personal income tax returns. He is in a 41.12% marginal tax bracket, how much in income taxes does Buck need to pay for having missed this annual minimum HBP re-payment?
Select one:
a. $666
b. $1,666
c. $1,667
d. $685
e. $632
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